Proof-of-work, the algorithm backing Bitcoin, is a fundamentally wasteful process by design. Even back in the days of Satoshi, people realized that, if Bitcoin were to become successful, the hashpower directed towards securing the network would be massive. Satoshi anticipated this debate and responded to critics, writing, “ironic if we end up having to choose between economic liberty and conservation.”
Bitcoin Has Best Day in 2 Months as Markets Anticipate a ‘Summer of Easing'
The net percent of global central banks cutting rates is increasing in a positive sign for risk assets, including cryptocurrencies....